Oracle's Hostile Takeover Playbook: A Guide for David Ellison's WBD Bid

David Ellison’s potential bid for Warner Bros. Discovery (WBD) could follow a famous family script. His father, Larry Ellison, executed one of tech's most aggressive takeovers: Oracle’s 18-month acquisition of PeopleSoft. That historic battle reveals key tactics for a hostile bid today. First, relentless persistence is essential. Oracle pursued PeopleSoft despite public rejections and legal challenges. It raised its offer multiple times over a year and a half, wearing down resistance. Second, direct appeal to the target's shareholders is crucial. Oracle bypassed PeopleSoft's management to communicate its premium offer directly to the people who owned the company. This pressure can force a board to negotiate. Finally, be prepared for regulatory and legal warfare. Oracle faced a major U.S. government antitrust lawsuit. It fought and won in court, proving its case was legally sound. For David Ellison, these lessons are clear. A successful bid for WBD may require similar stamina, a shareholder-focused strategy, and a plan to overcome significant regulatory scrutiny. The Oracle playbook provides a tested, if contentious, path to victory.